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20 U.S.C. · Education
20 U.S.C. § 1087i

Authority to sell loans

Ch. 28 — HIGHER EDUCATION RESOURCES AND STUDENT ASSISTANCE
Title 20 U.S.C. ● ACTIVE Primary Source Ch. 28
Statutory Text

20 U.S.C. § 1087i — Authority to sell loans

U.S.C. Title 20 - EDUCATION 20 U.S.C. United States Code, 2023 Edition Title 20 - EDUCATION CHAPTER 28 - HIGHER EDUCATION RESOURCES AND STUDENT ASSISTANCE SUBCHAPTER IV - STUDENT ASSISTANCE Part D - William D. Ford Federal Direct Loan Program Sec. 1087i - Authority to sell loans From the U.S. Government Publishing Office, www.gpo.gov

§1087i. Authority to sell loans

The Secretary, in consultation with the Secretary of the Treasury, is authorized to sell loans made under this part on such terms as the Secretary determines are in the best interest of the United States, except that any such sale shall not result in any cost to the Federal Government. Notwithstanding any other provision of law, the proceeds of any such sale may be used by the Secretary to offer reductions in the interest rate paid by a borrower of a loan made under this part as the Secretary determines appropriate to encourage on-time repayment in accordance with section 1087e(b)(7) of this title. Such reductions may be offered only if the Secretary determines the reductions are in the best financial interests of the Federal Government.

(Pub. L. 89–329, title IV, §459, as added Pub. L. 105–244, title IV, §455, Oct. 7, 1998, 112 Stat. 1718.)

Editorial Notes

Prior Provisions A prior section 1087i, Pub. L. 89–329, title IV, §459, as added Pub. L. 102–325, title IV, §451, July 23, 1992, 106 Stat. 575, which related to schedule of regulatory activities by Secretary under Federal direct loan demonstration program, was omitted in the general amendment of this part by Pub. L. 103–66.

Statutory Notes and Related Subsidiaries

Effective Date Section effective Oct. 1, 1998, except as otherwise provided in Pub. L. 105–244, see section 3 of Pub. L. 105–244, set out as an Effective Date of 1998 Amendment note under section 1001 of this title.

Source: uscode.house.gov — public domain Official Source ↗
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20 U.S.C. § 1087i
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The statutory text of 20 U.S.C. § 1087i is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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Ch. 28 — HIGHER EDUCATION RESOURCES AND STUDENT ASSISTANCE
20 U.S.C. § 100120 U.S.C. § 100220 U.S.C. § 100320 U.S.C. § 101120 U.S.C. § 1011a20 U.S.C. § 1011b20 U.S.C. § 1011c20 U.S.C. § 1011d20 U.S.C. § 1011e20 U.S.C. § 1011f20 U.S.C. § 1011g20 U.S.C. § 1011h20 U.S.C. § 1011i20 U.S.C. § 1011j20 U.S.C. § 1011k20 U.S.C. § 1011l20 U.S.C. § 1011m20 U.S.C. § 101520 U.S.C. § 1015a20 U.S.C. § 1015b20 U.S.C. § 1015c20 U.S.C. § 1015d20 U.S.C. § 1015e20 U.S.C. § 1015f20 U.S.C. § 101820 U.S.C. § 1018a20 U.S.C. § 1018b20 U.S.C. § 101920 U.S.C. § 1019a20 U.S.C. § 1019b
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